There is a time to haggle and a time to just pay, do you know the difference? This is the first part of the series, 6 Things Worth Haggling Over and I promise, a few of these items will shock you! You’ll never miss a deal again!
6 Things Worth Haggling Over (Part 1)
1. Hotel Rooms – Hotels have a unique problem, if they don’t sell a room on a given night, it is gone. So, they will often discount deeply at the last minute if they have unsold rooms. Try naming your own price at Priceline.com the day of your stay, but be prepared, you can specify the star quality and general location, but can’t pick the specific hotel. However, you can get some great deals this way.
If you must stay at a particular hotel, try calling and asking for a special rate. Get the details of the room or you may end up staying in the living room of a suite without having the bedroom, sleeping on a couch at a great rate! True story.
2. Garage Sales – Very few people having a garage sale expect you to pay the marked price on anything! They may have a sentimental dresser from grandma that they don’t really want to sell and won’t negotiate from that high price, but for most things I’d take the following strategy: Gather up everything that interests you, add up the prices and go up to the owner and offer 50% to 75% of that total.
The more you are buying and the later in the day it is, the more they are likely to take your offer. They might counter a little bit higher, but still far below the marked prices. Remember, at the end of the day, they DON’T want to be carrying that stuff back in their house!
3. Cars – Most people know you have to negotiate the price of a car, but what’s the best strategy to get the best deal? My strategy is to go to a reputable website like Edmunds.com for the True Market Value or KBB.com and get the Fair Purchase Price.
These are averages that customers are actually paying in your area for a given make and model, make this the highest price you will pay. Then, talk to at least two dealers and let them know the prices that the other is offering.
They can usually go lower if they have a target to beat. Don’t be afraid to go to a lower trim level of a car and add the features you want rather than paying for a higher trim level and paying for features you don’t want. Be specific with the dealer and remember, they can search the inventory to find the exact car you won’t and it doesn’t have to break the bank!
Want more deals? Be sure to check out Part 2 of 6 Things Worth Haggling Over tomorrow!
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